Synergy @ 2019 Shoreline Apartments 2019 Shoreline Dr

41 Unit Apartment Building $20,481,182 CAD ($499,541 CAD/Unit) 5.40% Cap Rate Alameda, CA 94501

INVESTMENT HIGHLIGHTS

  • Investors have the opportunity to acquire a well-situated multifamily asset in one of the most desirable locations in the East Bay.
  • Synergy @ 2019 Shore Line offers tenants and residents beautifully designed two-bedroom and one-bedroom floor plans featuring modern unit amenities.
  • Select Units have also been renovated with hardwood flooring, dual pane windows throughout, and stainless steel appliances.
  • The subject property is situated on the Alameda shoreline, offering tenants breathtaking views of the San Francisco skyline.
  • The property has undergone significant capital expenditures with a new roof, newly built staircase, resurfaced pool & freshly painted exterior.
  • Tenants and residents enjoy attractive community amenities including pool, pool house, laundry facilities, and the Alameda Beach just steps away.

EXECUTIVE SUMMARY

Synergy @ 2019 Shore Line is a stunning 41-unit apartment community located at 2019 Shore Line Dr on the beautiful beachfront of Alameda, California.
Situated on a large parcel of land totaling 1 acre, the subject property was originally constructed in 1964 and has a gross building area of approximately 44,816 square feet, offering its tenants beautifully designed two-bedroom and one-bedroom floor plans.
Tenant's enjoy beautiful sunsets from their private balcony or patio with views of San Francisco Bay and the San Bruno Hills, and have access to a community pool and picnic area. The property is walking distance to the USPS post office, Alameda Town Center, local schools, numerous parks, and a myriad of restaurants. Additionally, there is easy access to BART, S.F. Bay Ferry, Highway 880, and minutes from Oakland Airport.
The subject property has recently undergone over a quarter million dollars of renovations and capital expenditures. Most units feature premium renovations including hard flooring, dual pane windows and stainless steel appliances. The property's exterior has also been updated with a new roof, fresh exterior paint, newly built staircase, and pool resurfacing.
The investment appeal of this asset is driven by Alameda's strong employment fundamentals, low vacancy levels, and rapidly growing rental demand. With a world- class location in the heart of the East Bay, Synergy @ 2019 Shore Line presents an attractive choice for Bay Area renters due to its close proximity to major Silicon Valley employers, transportation corridors, shopping, dining and entertainment options.

FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access

ANNUAL (CAD) ANNUAL PER SF (CAD)
Gross Rental Income $99,999 $9.99
Other Income $99,999 $9.99
Vacancy Loss $99,999 $9.99
Effective Gross Income $99,999 $9.99
Taxes $99,999 $9.99
Operating Expenses $99,999 $9.99
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

PROPERTY FACTS

Price $20,481,182 CAD
Price Per Unit $499,541 CAD
Sale Type Investment
Cap Rate 5.40%
Gross Rent Multiplier 11.49
No. Units 41
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low-Rise
Building Class C
Lot Size 1.00 AC
Building Size 44,816 SF
No. Stories 3
Year Built 1964
Parking Ratio 1.34/1,000 SF

UNIT AMENITIES

  • Balcony
  • Heating
  • Kitchen
  • Range

SITE AMENITIES

  • Laundry Facilities

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
1+1 21 - -
2+2 20 - -
Bike Score®
Very Bikeable (80)

PROPERTY TAXES

  • Listing ID: 35175489

  • Date on Market: 2025-03-18

  • Last Updated:

  • Address: 2019 Shoreline Dr, Alameda, CA 94501